20211221 Premarket Prep DAX

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This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DAX. This prep builds off of my week­ly trade plan I made here:

DAX 2021 Week 52 Trad­ing Plan

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The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing below last week’s body and price has made a LL

Sen­ti­ment

• LN open
  • Above Val­ue, Out­side Range
• Mar­ket Profile
  • Val­ue cre­at­ed below over­all range
• Nar­ra­tive
  • Large Imbal­ance at the open, pos­si­ble mean reversion
  • 1st test and reac­tion off D1 QLo, D1 closed as a large pin­bar at W1 sup­ply, poten­tial con­tin­u­a­tion down
  • H4 clos­ing high­er although hit­ting H4 VWAp in DT and price seems to be reacting
  • H4 QLo reject­ed and price is trad­ing mid swing
  • Trend is down 2/3
  • Asia trad­ed higher
  • ADR exhaus­tion not far above open
  • Wide IBR
  • Prev. Day Exceed­ed ADR by 1.57
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Weak­ness From With­in IBR
• Hypo 2
  • Return to Val­ue, rever­sal, pos­si­ble failed auc­tion long
• Hypo 3
  • Sus­tained Auc­tion Down, mean rever­sion, mon­i­tor for val­ue acceptance
• Hypo 4
  • Auc­tion Fade Long

Addi­tion­al notes

• N.A

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• W1-C‑S 15367.07
• MN-C‑S 15241.00

ZOIs for Pos­si­ble Long

• W1-C‑D 15322
• D1-C‑D 15127.24

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing Okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
  • No ear­ly exits, either hit SL or 2R target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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